Daily News March 5, 2019	Days:  01 04 05 06 07

politics

FISCAL COMMITTEE CHAIRMAN: EXCESSIVE AGIOTAGE AND POLITICIZATION CAN CAUSE DAMAGE TO COMMERCIAL BANK

Irakli Kovzanadze, chairman of Georgian Parliament’s Fiscal Committee, indicted that “excessive agiotage and politicization can cause damage to commercial bank and, first of all, to its investors”.

Kovzanadze declared this at the plenary session of the Parliament today, while speaking on case of TBC Bank, and noted that TBC Bank is “one of undisputed leaders of banking sector of Georgia and the whole region and our duty is to be careful concerning it”.

economics

STATE PROPERTY AGENCY: PRIVATIZATION PLAN FOR 2018 FULFILLED BY 151%

Georgian National Agency of State Property said that nation-wide plan for 2018 envisaged collection of 58.5 million lari from privatization (capital assets and lands). However, the Agency reported, 88.71 million lari entered the state budget from privatization as of December 31, 2018, i.e. the annual plan is fulfilled by 151%.

business

“FITCH” UPGRADED RATING OF PARTNERSHIP FUND FROM “BB -” TO “BB”

Fitch Ratings declared today about revision of rating of Georgian Partnership Fund, which was upgraded from “BB-” to “BB” level. Outlook is “stable”.




“FITCH” UPGRADED RATING OF “GEORGIAN RAILWAY” FROM “BB-” TO “BB”

Fitch Ratings declared today about revision of rating of Georgian Railway, which was upgraded from “BB-” to “BB” level. Outlook is “stable”.




COMPETITION ANNOUNCED FOR SELECTION OF AUDITOR OF THE PENSION AGENCY’S REPORTING FOR 2018

Georgian Parliament declared about competition, announced on selection of independent auditor for Georgian Pension Agency’s reporting for 2018.

Applications are accepted through March 21, while the competition will be finished no later of April 1.




AUDIT OF STATE AUDIT SERVICE TO BE CONDUCTED BY “DELOITTE”

Georgian Parliament declared that financial audit of Georgian State Audit Service for 2018-2019 will be conducted by Deloitte. Such decision was made by the contest committee today.

society

PERSONAL DATA INSPECTOR: ACTIVITY OF CREDIT BUREAU IN 2018 STILL WAS NOT REGULATED BY NORMATIVES

Georgian Inspector for Personal Data Protection published recently report for 2018, according to which 96 cases of data processing in financial sector of the country were studied during the year, including 35 ones, connected with debt collector companies, 19 – with microfinancial organizations and 12 – with JSC CreditInfo Georgia (credit bureau).

Similarly to previous years, activity of the credit bureau was not regulated by normatives and data were processed on the basis of agreement, signed between private subjects (CreditInfo Georgia and its customers), the report stated, noting that since 2019, powers of supervision of activity of credit bureau are assigned to National Bank of Georgia.




PERSONAL DATA INSPECTOR: DIRECT MARKETING WAS STILL A TOPICAL ISSUE IN 2018

Recently published annual report of Georgian Inspector for Personal Data Protection states that direct marketing was still a topical issue in 2018.

The report notes that based on 59 citizens’ applications, the Inspector has studied dozens of direct marketing cases, revealing violation of requirements of the law in 23 of them, fining 19 organizations and issuing 57 instructions obligatory for execution.